695 billion supplementary estimate approved in Parliament

The Prime Minister Ranil Wickremesinghe presented a Rupees. The supplementary estimate of $ 695 billion (June 8) was debated and passed without a vote.

The supplementary estimate was presented in 2022 to provide relief to various sections of society affected by the adverse economic conditions and to make additional provisions to cover the rising cost of supplies due to inflation.

Rupees. 87,000 million will be paid for the further payment of a monthly allowance of Rupees. 5,000 to public servants from January 2022 and a further Rupees. 40,000 million will be paid to Samurdhi recipients from January 2022 for the further payment of the monthly allowance of Rupees. 5,000 from January 2022. According to this estimate, an additional allowance of Rupees. 1000 million has been allocated for further reading.

In addition, Rupees. 50,000 million will be provided to the Ceylon Electricity Board to pay to the Ceylon Petroleum Corporation for meeting the energy requirement, Rupees. Also allocated by the Supplementary Estimate.

Rupees. 25,000 million to cover possible arrears in food and other supplies to institutions such as hospitals and prisons due to rising prices, Rupees. 4,500 million for other recurring expenses incurred due to rising prices and Rupees. 21500 are among these.

Also, Rupees. 250,000 million to be utilized / accounted for under the Indian Loan Scheme for Import of Essential Commodities. This estimate also includes 140,000 million provided by the World Bank for utilization.

Accordingly, domestic funding of Rupees. 305,000 million, excluding funds provided by the World Bank and the Government of India, is required.

Further, the provisions made under Section 8 of the Appropriation Act No. 7 of 2020 had to be approved after debate.

This provision has been made in terms of Section 8 of the Appropriation Act No. 7 of 2020, in accordance with the powers vested in the Minister of Finance to revise the advance account limits granted under the Appropriation Act, taking into account the requirements arising in the relevant year.